I'm going to start off with Cliff's disclaimer (as Cliff always starts off his videos) because this post is a lengthy one and involves some calculations: This is not financial advice and I am not a financial advisor. Don't invest what you cannot afford to lose! The content in this post is purely of my own opinion and is for entertainment purpose only.
I have a hashflare account for just over a week now and I did some research on them before I signed up and they look legit and reputable.
Since we are all in this together, I figure I will share with you my investment and returns so far.
I invested $350 with them which gets me 2.5 TH/s on the SHA-256 contract to mine Bitcoin. I cannot comment on any other contract as I'm only interested in the SHA-256. I know this is by no means a big investment but it was my first cloud mining contract so I figured I'd start out small and see what the returns look like. They charge $0.0035 for every 10GH/s per day on SHA-256, for my 2.5 TH/s contract this equates to 0.875 USD per day. Due to BTC price fluctuation, some days the maintenance fee is less in BTC, some days its more.
My $350 investment expected revenue on my dashboard look like this:
My actual payouts and maintenance fee this week looks like this:
So according to the dashboard my total revenue in for 1 week: 0,00312648 BTC
Actual total revenue for 1 week based on payout logs : 0,00302433 BTC
Variance : 0,00010215 BTC (3.27%)
This variance is negligible due to different pool payouts, etc. The cloud mining service allows you to choose between 5 mining pools with a max of 3 different mining pools to split your hashrate between. Either 100% to one pool, 50/50 between 2 pools or 33/33/34 between 3 pools. I have not played around with this and have left it at the standard 3 pools as I have the most chance of stability this way - selecting other options may yield different profits, I dont know.
So now if I take my total revenue and less maintenance fees for the last week:
Revenue 0,00302433 BTC
Maint -0,00054748 BTC
Payout 0,00247685 BTC (81.9% of actual revenue)
Taken from the dashboard revenue gets me to 79.2% actual payout.
Now when I invested my $350 it would have only gotten me 0,04228009 BTC if I had bought BTC on an exchange. Looking at an entire year of actually getting paid out 79.2% of the revenue forecast leaves me with 0,12911469 BTC. Thats just over 3x return!
A year is a long time and the mining difficulty will constantly change along with the BTC to USD price (which is linked to the maintenance fees) so this is a very early mathematical calculation based on forecasts - and forecasts also predict the price of Bitcoin going up which means maintenance costs related to BTC will come down. But based on these calculations, in my opinion, it's difficult for me to see myself making a loss and therefore I term it in a "lower risk" part of my high risk cryptocurrency investments in which I ultimately get out more Bitcoin than I put in - and this is my end goal.
If you liked my post and found it informative and feel you want to give hashflare a try, I would appreciate it if you used my referral link posted in my bio - if not, no hard feelings, atleast we'll be cloud mining Bitcoin together!